PayPal agreed to buy Hyperwallet, a Canada-based payments provider, for $400 million in cash. This acquisition support's PayPal's thesis that marketplaces will be one of its biggest growth drivers. Hyperwallet is positioned as a marketplace payment solution and counts Amazon.com's Australian business and HomeAway as customers.
“We see an explosion of marketplaces,” said Bill Ready, PayPal’s chief operating officer, in an interview. “We want to serve them with a full operating system for commerce.”